Dana, who has struggled with diabetes since age 7, were the heart and soul of the night. As well-meaning as all this is, the gala takes place right in the heart of Tinseltown -- at Merv Griffin 's Beverly Hilton -- and it attracts the creme de la creme of L.A.: movie stars, socialites, movers and shakers, high profiles, VIPs and celebs on the edge of extinction. Everybody is wearing real jewelry straight out of the vaults or dresser drawers, or even the soap dishes where they tossed the gems the night before.

So there they all were, preening, dishing, gossiping, flaunting bodies that have been exercised and starved to this year's ideal of perfection. The faces of the women -- and most of the men -- have been slapped, strapped, bronzed, highlighted, surgically lifted. And the effect is fantastic, if not quite as trippy as, say, Oscar night, where more business is done. "Carousel of Hope" actually stands for what is left of "social" in Los Angeles.

Reputations, plastic surgery, divorces, affairs and straying mates are discussed earnestly over bids for plates painted and signed by the likes of

Donna Mills . There was Raquel Welch , impossibly voluptuous and satin-skinned, still one of the wonders of the world and now charmingly solicitous of her new restaurateur hubby, Richard Palmer .

Mark Wahlberg was on his first "Carousel" ride, and he bid seriously on the painted plates.

Goldie Hawn and Kurt Russell held hands, radiant, greeting us with warmth. Then Goldie shrieked suddenly; Dustin Hoffman had just goosed her. "He always has to have the last word!" said Goldie.

Dennis Quaid , ruddy, fit and sexy, was there, too. He spoke of his recent statements to this column defending his soon-to-be ex, Meg Ryan , from charges of not being an exemplary mom. And there was Bo Derek , the dedicated Republican; and

But the piece de resistance of the night was the unexpected appearance of

Elizabeth Taylor with Michael Jackson . Once they were spotted, the entire room seemed to surge in their direction. Some of the famous stood on chairs to get a glimpse of them. People practically killed to get near them. These two superstars were the very image of their famous personas -- he heavily painted and oddly dressed in a beige military jacket; she in glamorous red, covered with jewels, her hair an enormous cloud of brunet cotton candy. The entertainment was deluxe -- Charlotte Church , the astonishing 14-year-old soprano; Toni Braxton , sultry to the max; and Ricky Martin , who brought the evening to a volcanic, hip-shaking climax. (If a movie version of "Phantom of the Opera" is still on anyone's mind, they might look to Ms. Church as the object of the Phantom's obsession. She is brilliant, beautiful and seems more mature than a mere 14. Best scene? Joan Collins jumping up to embrace Taylor as La Liz made her way out of the room. Joan, moving with the quickness and grace of a panther, seemed to startle E.T., but they hugged warmly as the cameras flashed and their camaraderie was captured for posterity.

-- And speaking of posterity, at the coming Bobby Fryer memorial, Gwen Verdon , who died only a couple of weeks ago, was to be one of the speakers. She starred in three of his musicals on Broadway. Producer Fryer died May 29 in Los Angeles and will be remembered Nov. 9 in New York at the Broadhurst Theater. His name enters the Theater Hall of Fame this week. Producer Martin Richards is overseeing this memorial.